Harney decision on IIB inspector expected shortly

The Tanaiste, Ms Harney, will decide shortly whether to appoint a High Court inspector to IIB Bank, following the completion of a confidential five-volume report into the bank.

Ms Harney told the Dail yesterday she expected the High Court inquiries into National Irish Bank and the Ansbacher deposits would be completed before the end of the year.

The reports of High Court inspectors can be published.

A report by authorised officer Mr Gerry Ryan into IIB Bank was given to Ms Harney on June 1st, she told Fine Gael deputy Ms Nora Owen and Labour's Mr Pat Rabbitte. "The authorised officer did enormous work on that extensive report," the Tanaiste said.

"He was able to find extraordinary information."

A spokesman for IIB Bank said it had no comment to make on the matter.

Asked how the information discovered by Mr Ryan might come into the public domain, Ms Harney said the reports of authorised officers must remain confidential, but that they could lead to the appointment of High Court inspectors, whose reports can be made public.

"The IIB report is now completed and I will make a decision over the next couple of days, following discussions later this week with my legal advisers, as to how to move on the authorised officer's five volume report."

Ms Harney said authorised officers' reports into Celtic Helicopters, Guinness & Mahon bank, College Trustees Ltd, Hamilton Ross Co Ltd and Kentford Securities Ltd are expected to be completed soon. "The obvious course of action on those which require further action is a section 8 [High Court] inspection."

Celtic Helicopters is the company associated with Mr Ciaran Haughey, son of Mr Charles Haughey.

College Trustees (Guernsey), Hamilton Ross (Cayman Islands) and Kentford Securities are all linked to the Ansbacher operation run by the late Mr Des Traynor.

Guinness & Mahon bank was the main Irish bank involved in the Ansbacher deposits.

Ms Harney said she hoped to recoup all costs incurred by her department once the High Court inspections are completed.

"It is reasonable that the companies which required a level of inquiry to a section 8 level should be responsible for the costs."

Other options which exist for Ms Harney regarding the IIB report, are to send it to the Revenue Commissioners, the Moriarty tribunal or the Director of Public Prosecutions. Depending on the findings, it could also be sent to the Central Bank.

Ms Harney said earlier authorised officers' reports, into Bula Resources Ltd, Garuda Ltd, and National Irish Bank Financial Services Ltd, had been sent to the DPP.

They have also gone to the Revenue "and I understand that they are pursuing vigorously the information included in them".

Ms Harney said the company law enforcement bill, which she expected to be published shortly, would provide for an independent process for conducting inquiries of the nature being discussed, "in order that it will not depend on political decisions".